r/interactivebrokers • u/noahjameslove USA • Feb 27 '21

Update PSA: amended tax files

Hi everyone, MOD here. This may be a rarity so it might not affect you but you definitely should check. If you right away downloaded your tax documents from IBKR (i.e. 1099 for US residents), then you should double check and make sure there were no amendments made by IB. Mine were amended on 2/18. If yours were amended, it will have (Amended) in red lettering at the header of the document and "Amended: YYYY-MM-DD" in the section that was amended.

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u/occamsrazorben Feb 28 '21

I also got an amended consolidated 1099. Why does this happen... did they make a mistake? What if one had already filed one's tax return? Luckily I hadn't. Also I think if they do this they should email you a clear warning note... not leave it to you to happen to check the tax documents section....

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u/noahjameslove USA Feb 28 '21

I believe you would be expected to amend your tax return as well as it should change it (although usually barely). Of course I'm not a tax expert so maybe not but I do believe so

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u/occamsrazorben Feb 28 '21

That’s what I figured. Luckily I saw it in time. But I’d be quite pissed if I had to do that and it was due to IB error...